Bitcoin Stuck in Range, Sellers Maintain Control
Bitcoin's price has been struggling to regain momentum, currently trading at $77,187. The sellers have taken control and are driving the price lower. Despite this, key stakeholder wallets holding between 10 and 10,000 BTC have reduced their exposure by 0.20% over the past three weeks.
On the other hand, retail wallets holding under 0.01 BTC have stopped dumping and started adding to their holdings, gaining 0.09% since the FOMO peak. This has marked a local top, but does not guarantee a drop in prices.
The technical analysis suggests that the asset is in a firm macro downtrend, with both the Moving Average Convergence Divergence (MACD) line and the signal line sitting below the zero line. The daily Relative Strength Index (RSI) is at 41.30, indicating a mild consolidation or moderate pullback within a broader trend.